Buying a home usually has a monster obstacle — coming up with a sufficient down payment. You can put less than the traditional 20% down payment but the lender will likely require you to buy mortgage insurance. The concept behind mortgage insurance is not quite the same as with other insurance plans.
Comment on What Is Private Mortgage Insurance? (PMI)
Hal M. Bundrick, CFP, NerdWallet.com
Mon, 06/19/2017 - 7:56am
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